Fed’s Preferred Gauge Shows Inflation Heating Up

WSJ Minute Briefing

The Wall Street Journal

Business News, News

4.1 • 670 Ratings

🗓️ 28 May 2026

⏱️ 4 minutes

🔗️ Recording | iTunes | RSS

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Summary

Plus: Billionaire Tilman Fertitta has agreed to buy Caesars Entertainment for about $5.7 billion. And a federal regulator has paused its review of a blockbuster railroad merger. Pierre Bienaimé hosts. Sign up for WSJ’s free What’s News newsletter. An artificial-intelligence tool assisted in the making of this episode by creating summaries that were based on Wall Street Journal reporting and reviewed and adapted by an editor. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:34.1	Here's your midday brief for Thursday, May 28th. I'm Pierre Bienname for the Wall Street Journal.
0:40.1	The Federal Reserve's preferred measure of price changes shows that inflation is heating up.
0:45.3	The index grew by 0.4% in April from March, but when you compare the reading to where it was a year ago, it's up 3.8%.
0:52.5	The Federal Reserve aims for 2% inflation in the personal
0:56.1	consumption expenditures price index. And in other data from the Commerce Department, US GDP
1:02.0	grew at a 1.6% annual rate in the first quarter. That's down from an earlier estimate of 2%.
1:08.0	Economists surveyed by the Wall Street Journal had expected the pace to stay at 2%.
1:12.5	Billionaire Tillman-Fertita has agreed to buy casino company Caesar's Entertainment for about
1:18.2	$5.7 billion. Caesars runs more than 50 resorts, including its namesake Caesar's brand and
1:24.5	Harrah's. Fertita Entertainment will add those to a portfolio that includes the Golden Nugget
1:29.2	casino chain, the NBA's Houston Rockets, and other hospitality and gaming businesses.
1:34.6	Fertita will pay Caesar's shareholders $31 a share and assume roughly $12 billion of the casino
1:40.1	company's outstanding debt.
1:42.2	And a federal regulator has paused its review of a merger
1:45.6	between two railroads, Union Pacific and Norfolk Southern. The Service Transportation Board
	...

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